{"id":245260,"date":"2023-11-15T14:48:55","date_gmt":"2023-11-15T14:48:55","guid":{"rendered":"https:\/\/automotobuzz.com\/?p=245260"},"modified":"2023-11-15T14:48:55","modified_gmt":"2023-11-15T14:48:55","slug":"india-mulls-tax-cuts-on-imported-evs-for-a-period-of-5-years","status":"publish","type":"post","link":"https:\/\/automotobuzz.com\/news-features\/india-mulls-tax-cuts-on-imported-evs-for-a-period-of-5-years\/","title":{"rendered":"India mulls tax cuts on imported EVs for a period of 5 years"},"content":{"rendered":"
Manufacturers will have to commit to eventually building EVs in India to avail of the tax cuts.<\/h2>\n
According to a media report, the Indian government is looking at allowing international automakers to import EVs on concessional duty rates.\u00a0<\/p>\n
It is said that the government could offer tax cuts on imports of completely built units (CBU) of electric vehicles for a period of up to 5 years. However, to avail of the tax cuts, manufacturers will have to commit to eventually building them in India.<\/span><\/p>\n
The news comes at a time when Piyush Goyal, Minister of Commerce and Industry, is on a visit to the US to participate in regional trade meetings and woo investments from EV markers.\u00a0<\/span><\/p>\n
The minister also stopped by Tesla\u2019s manufacturing facility in Fremont, California, where he met with engineers and finance professionals working in senior positions.<\/span><\/p>\n